Limerick, Athlone and Kilkenny

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Originally Posted by Battery Rover

We just have to get through the licensing. The ground is worth over 10 million so €50k isn't an issue.

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the ground may be worth (or cost) that to Athlone Town football Club. Hard to see it having that value to anyone else.

How many acres in total are owned? is the land zoned? would the site be attractive for development (i wouldn't have thought it was that attractive tbh)??? have you not read the papers/listened to the radio/watched TV for the past year??? the economy is not as sh1t hot as it recently was and the days of developers splashing the mad cash are gone (for the time being at least).

how much do ye owe for construction/purchase to this point, surely ye have creditors who would need satisfying!! Selling/mortgaging a clubs fixed assets (if ATFC own the ground) to satisfy an operating loss would surely be the beginning of the end!!!

i know nothing about ATFC's financial problems (or lack thereof) but to blankly say our ground is worth €10m and we only owe €50k is a tad naive.

The ground is fully owned by the club. A total of 10 acres is owned and the land would be attractive to developers as it is beside the Town bypass, 400 home housing estate and a new school which is being built beside it and as far as I am aware a golf classic along with a Valentines Ball held by the stadium committee covers the construction cost payments per year.
It would never be sold anyways as it is held by the stadium committee which is a totally seperate company to the club itself.

As for land value round Athlone a farm of 50 acres about 1 mile away sold recently for close on €70m after being withdrawn from auction at €50m and it will get even worse there due to the fact that Gormley is bringing out new planning guidlines for gateway towns which according to our local press will see a construction explosion on the leinster side of town.

As for the €50k have heard since the amount is only about €20k and not tax as the papers state but it will be paid on the 20th of this month by the committee

The paint isn't even dry on the new stadium and and it's been put forward as some form of collateral against for a loan for next years budget and 07s loss c/f?

The site is certainly valuable but Delaney isn't/shouldn't/won't let the land and buildings go against the debt and therefore the balance sheet should never be put forward as a reason for ATFC not to go bust.
The committe put the club in loss whatever it is and should therefore be liable in the event. They should not have limited liability. I am glad to hear the debt will be sorted by the commitee, personally, after all they invested my season ticket money and should take the fianancial responsibility/liability. If footbal clubs were bonafida business courts would have the majority and their directors for reckless trading.

as for Limerick and Kilkenny, don't know where EL Div one is going.

As I already said, the stadium cannot be sold, it is a condition of the government funding.

Two of the ten acres, the car park, belongs to the council. The other eight belongs to Athlone Town Stadium Ltd who technically rent the ground to Athlone Town FC.

On top of that, there are plenty of green field sites around the ground.

would be a shame if athlone were in trouble cos there stadium has the makings of a top class arena with a bit more work, that and kilkenny are great places to watch a game

Anyone an accountant?
I read today that Athlone in particular owe 65K which is made up of 15 - 20K in players wages for last season and the remainder to the revenue. Does anyone know how a club that made no money last year owes the revenue?

If the answer is VAT, how and what is VAT charged on? Are Gate receipts liable? I can understand takings at the bar and club shop for merchandise etc but if you consider ATFC will be paying VAt on coach hire, materials for the gropund such as petrol for mower and other expences you would imagine a VAT liability (if this is what it is) could be offset against vat on expences. We turnover a bit less than two mil where i work and pay less that 100k VAT pa.Thanks.

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Originally Posted by chopper harris

Anyone an accountant?
I read today that Athlone in particular owe 65K which is made up of 15 - 20K in players wages for last season and the remainder to the revenue. Does anyone know how a club that made no money last year owes the revenue?

If the answer is VAT, how and what is VAT charged on? Are Gate receipts liable? I can understand takings at the bar and club shop for merchandise etc but if you consider ATFC will be paying VAt on coach hire, materials for the gropund such as petrol for mower and other expences you would imagine a VAT liability (if this is what it is) could be offset against vat on expences. We turnover a bit less than two mil where i work and pay less that 100k VAT pa.Thanks.

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Its PAYE - its the tax they owe on players wages.

Thanks Ronnie. Can't wait for the open forum they have!

was there not a rule that says you cannot sign any new players until outstanding wage bills were met. seem to remember this a few sesaons ago and if so will this be a problem for athlone or limerick

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Originally Posted by passerrby

was there not a rule that says you cannot sign any new players until outstanding wage bills were met. seem to remember this a few sesaons ago and if so will this be a problem for athlone or limerick

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Yes thats true we are forbidden to even approach any players until this is sorted out and according to what I have heard this will be by the 20th of this month.

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Originally Posted by chopper harris

Thanks Ronnie. Can't wait for the open forum they have!

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When is this on?

Dont they have a q & A with the manager and a committee member or two as a PR thing early on in the season? They did with John Gill and Socksey as far as I remember. If the don't i stand corrected. Also If they don't they should and I I'm not sure the AGM is the right place for it.

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Originally Posted by chopper harris

Dont they have a q & A with the manager and a committee member or two as a PR thing early on in the season? They did with John Gill and Socksey as far as I remember. If the don't i stand corrected. Also If they don't they should and I I'm not sure the AGM is the right place for it.

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They had one with Giller where he said he would stay with the Club.
That was one of the last times the Committee spoke to him and he
later joined Dundalk.

Socksy held an internet forum which about 5 people logged into, but credit
to him for taking part

Quote:

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Originally Posted by chopper harris

Dont they have a q & A with the manager and a committee member or two as a PR thing early on in the season? They did with John Gill and Socksey as far as I remember. If the don't i stand corrected. Also If they don't they should and I I'm not sure the AGM is the right place for it.

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John Gill has one of them everywhere he goes to suck people in with his sweet talk.

The one with Mickey was just a once of as he offered it on the way to a match. The AGM from what I hear will be at the start of February and any problems people have should be aired there as it is probably their only chance to get things across in an official way.

In case you dont know we also have a forum here and the committee do read that one.

How are Dundalk financially? They must have had a big wagebill last season.

The club was bought last year by local businessman Gerry Matthews so are finances are secure.